Sterling Investment Advisors Ltd. Maintains Position in Phillips 66 (NYSE:PSX)
Sterling Investment Advisors Ltd. maintained its stake in Phillips 66 (NYSE:PSX) during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 2,015 shares of the oil and gas company’s stock at the end of the first quarter. Sterling Investment Advisors Ltd.’s holdings in Phillips 66 were worth $160,000 as of its most recent filing with the SEC.
Other hedge funds also recently added to or reduced their stakes in the company. Winch Advisory Services LLC boosted its stake in Phillips 66 by 5,872.7% in the first quarter. Winch Advisory Services LLC now owns 1,314 shares of the oil and gas company’s stock valued at $104,000 after buying an additional 1,292 shares during the period. Westside Investment Management Inc. boosted its stake in Phillips 66 by 239.2% in the first quarter. Westside Investment Management Inc. now owns 1,418 shares of the oil and gas company’s stock valued at $110,000 after buying an additional 1,000 shares during the period. FTB Advisors Inc. boosted its stake in Phillips 66 by 17.3% in the first quarter. FTB Advisors Inc. now owns 1,444 shares of the oil and gas company’s stock valued at $113,000 after buying an additional 213 shares during the period. Guardian Life Insurance Co. of America boosted its stake in Phillips 66 by 0.6% in the first quarter. Guardian Life Insurance Co. of America now owns 1,708 shares of the oil and gas company’s stock valued at $135,000 after buying an additional 11 shares during the period. Finally, Barrett Asset Management LLC boosted its stake in Phillips 66 by 2.9% in the first quarter. Barrett Asset Management LLC now owns 1,762 shares of the oil and gas company’s stock valued at $140,000 after buying an additional 50 shares during the period. 69.78% of the stock is currently owned by institutional investors and hedge funds.
Shares of Phillips 66 (NYSE PSX) traded down 0.18% during trading on Friday, reaching $83.49. 504,720 shares of the company’s stock were exchanged. Phillips 66 has a 52-week low of $75.14 and a 52-week high of $88.87. The stock’s 50 day moving average price is $82.97 and its 200-day moving average price is $79.84. The stock has a market cap of $42.71 billion, a PE ratio of 24.97 and a beta of 1.22.
Phillips 66 (NYSE:PSX) last posted its earnings results on Tuesday, August 1st. The oil and gas company reported $1.09 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.02 by $0.07. Phillips 66 had a net margin of 1.87% and a return on equity of 6.29%. The firm had revenue of $24.58 billion for the quarter, compared to analyst estimates of $25.14 billion. During the same period in the previous year, the firm posted $0.94 EPS. On average, equities research analysts forecast that Phillips 66 will post $4.05 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Friday, August 18th will be issued a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 3.35%. The ex-dividend date is Wednesday, August 16th. Phillips 66’s payout ratio is 83.58%.
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Several research firms have recently commented on PSX. BidaskClub raised shares of Phillips 66 from a “strong sell” rating to a “sell” rating in a research note on Tuesday, June 13th. Scotiabank reissued a “hold” rating and set a $86.00 price target on shares of Phillips 66 in a research note on Tuesday, June 27th. TheStreet raised shares of Phillips 66 from a “c” rating to a “b-” rating in a research note on Friday, June 30th. Jefferies Group LLC set a $74.00 price target on shares of Phillips 66 and gave the company a “hold” rating in a research note on Saturday, June 3rd. Finally, Piper Jaffray Companies reissued an “overweight” rating and set a $88.00 price target on shares of Phillips 66 in a research note on Thursday, May 25th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $83.53.
About Phillips 66
Phillips 66 is an energy manufacturing and logistics company with midstream, chemicals, refining, and marketing and specialties businesses. The Company operates through four segments: Midstream, Chemicals, Refining, and Marketing and Specialties (M&S). The Midstream segment gathers, processes, transports and markets natural gas, and transports, stores, fractionates and markets natural gas liquids (NGLs) in the United States.
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